Balance of Payments and International Investment Position, Australia (Media Release)

MEDIA RELEASE

4 December 2012

Embargo: 11.30 am (Canberra time)

199/2012

Increase in current account deficit

Latest ABS figures show that in seasonally adjusted, current price terms, the current account deficit rose $2,531m (20 per cent) to $14,900m in the September quarter 2012. Exports of goods and services fell $4,048m (5 per cent)and imports of goods and services fell $1,516m (2 per cent). The primary income deficit fell $34m.

In seasonally adjusted, chain volume terms, the net goods and services surplus rose $490m (51 per cent) to $1,454m in the September quarter 2012. This is expected to contribute 0.1 percentage points to growth in the September quarter 2012 volume measure of Gross Domestic Product.

Australia's net IIP liability position was $869.6b at 30 September 2012, an increase of $8.7b on 30 June 2012. Australia's net foreign equity liability increased $11.0b to a liability position of $121.0b. Australia's net foreign debt liability decreased $2.3b to a liability position of $748.7b.

Further details can be found in Balance of Payments and International Investment Position, Australia (cat. no. 5302.0).

Media notes:

When reporting ABS data you must attribute the Australian Bureau of Statistics (or ABS) as the source.

September quarter 2012, Australian National Accounts: National Income and Expenditure (cat. no. 5206.0) will be released on 5 December 2012.

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